Citibank branch in Sydney, Australia. Photo: Bloomberg
Citibank branch in Sydney, Australia. Photo: Bloomberg

Citi, Deutsche Bank, ANZ served with criminal cartel charges in Australia

Australia's competition regulator has laid criminal charges against ANZ Banking Group, a local unit of Citigroup and Deutsche Bank relating to cartel offences over a $2.3 billion share issue

Australia’s competition regulator said on Tuesday that criminal charges had been laid against Australia and New Zealand Banking Group, a local unit of Citigroup and Deutsche Bank relating to cartel offences over a $2.3 billion share issue.

Criminal charges have also been laid against several senior executives such as ANZ Treasurer Rick Moscati, Citigroup’s John McLean, Itay Tuchman and Stephen Roberts, as well as Michael Ormaechea and Michael Richardson, both formerly of Deutsche Bank.

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